Skip to main content

Setting Up a Recurring Withdrawal for Your Client

  • Updated
  1. Log into app.zoefin.com.
  2. Select the client you would like to initiate a scheduled withdrawal for. 
  3. Click "Transfer Funds" in the upper right hand corner.
  4. Select "Cash Withdrawal".
  5. In the "From" section, select the Zoe account to withdraw funds from.
  6. In the "To" section, select the bank account the funds will go into. 
    • If the client still needs to connect an external bank account, instructions on how to do so can be found here.
  7. Input the withdrawal information and click continue.
  • For all account types you'll need to indicate the amount of the withdrawal, the frequency of the withdrawal, and the start date. For IRA accounts, you'll need to indicate the ‘Distribution Type’ as well.
  • If not enough cash is available in the account, a liquidation request will automatically generate when the withdrawal is submitted if there is a model assigned.
    • Based on the withdrawal’s frequency and start date, any required liquidation will be initiated 4 business days before the scheduled transfer date. For one-time transfers, the liquidation process will begin immediately upon submission. The withdrawal will be processed on the scheduled date, provided the liquidation has been successfully completed.
  1. Tax Withholding Information
    • After clicking continue add any tax withholding information if needed or required. 
  2. Review the transfer and submit for client approval.
  3. Your client will receive an email to approve the scheduled withdrawal. Once approved, this transfer can be viewed in the Scheduled Transfers section of the Dashboard. 
    • Note: If not enough cash is available in the account and no model is assigned, you will receive an email to take further action.

Editing a Recurring Withdrawal

After a recurring withdrawal has been set up, you can easily edit the amount, frequency, or any tax withholding information from the Dashboard. 

1. Go to the Upcoming Transactions section of the account the recurring withdrawal is for. 

2. Hover over the withdrawal and click edit. 

3. Adjust the information of the withdrawal and click save.